MMMK Development, Inc. 4

What Happened

• MMMK Development, a reported 10% owner of Revolve Group, converted Class B shares into Class A shares and sold a total of ~139,010 Class A shares in open-market transactions between Jan 26–28, 2026. The sales generated aggregate proceeds of approximately $4,039,938. The conversions were recorded at $0 (no cash paid) and the subsequent weighted-average sale prices reported by lot were about $29.76, $29.09, $28.57 and $29.36.

Key Details

• Transaction dates: Jan 26, 27 and 28, 2026.
• Shares sold: 32,709 (1/26), 56,419 (1/27), 49,882 (1/28, reported as 49,680+202). Total ≈ 139,010 shares.
• Proceeds by lot: $973,420; $1,641,229; $1,419,358; $5,931. Total ≈ $4.04M.
• Prices: weighted-average prices per lot shown above; detailed per-share price ranges across trades reported in the footnotes (approx. $28.35 to $30.12).
• Shares acquired via conversion: same amounts were shown as “Conversion of derivative security” at $0 (these Class B shares convert 1:1 into Class A).
• Plan/authorization: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted May 29, 2025 (footnote F2).
• Filing timeliness: Form 4 was filed Jan 28, 2026 covering trades Jan 26–28; the filing appears timely (Form 4 is generally due within two business days).
• Shares owned after transaction: not specified in the excerpt provided.

Context

• The filing shows conversion of Class B common stock into Class A shares (footnote F1) followed by immediate open‑market sales; conversion itself involved no cash consideration. Because MMMK Development is a 10% owner (an institutional/large holder), these sales are institutional transactions rather than executive insider signaling. The trades were executed under a pre-established Rule 10b5‑1 plan, which is often used to automate regular sales and can limit inferences about timing or intent.